Course Title: Prepare financial statements
Part B: Course Detail
Teaching Period: Term2 2011
Course Code: ACCT5237C
Course Title: Prepare financial statements
School: 650T TAFE Business
Campus: City Campus
Program: C4169 - Certificate IV in Financial Services (Accounting)
Course Contact : Bruce Phillips
Course Contact Phone: +61 3 9925 5735
Course Contact Email:bruce.phillips@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Jenny Wotsko/Laurine Symington Claude Marasco Pat Ragozzini
Phone: (+61 3) 99255988 99251651
Email: laurine.symington@rmit.edu.au claude.marasco@rmit.edu.au pragozzini@hotmail.com
Nominal Hours: 60
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
None
Course Description
This unit requires the application of skills and knowledge required to prepare financial statements. The unit encompasses compiling data and preparing reports. The unit can be applied across all sectors of the financial services sector.
If you are undertaking this course in Melbourne from semester 2, 2012 onwards your teacher will advise you if you require access to a computer for the course. It is recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus outside class times.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACCT405B Prepare financial statements |
Element: |
1. Compile Data
|
Performance Criteria: |
1.1 Data is systematically coded, classified and checked for accuracy and reliability in accordance with organisational policies and procedures |
Element: |
2. Prepare Reports
|
Performance Criteria: |
2.1 Charts, diagrams and supporting data are presented in an appropriate manner |
Learning Outcomes
Details of Learning Activities
In order to achieve learning outcomes, students will participate in the following activities:
- Attend and prepare notes during scheduled classes
- Participate in class discussions and problem solving exercises
- Answers to be prepared for inclass activities that are based on materials covered in class
- Complete required assessment tasks
Teaching Schedule
| Week | Week Commencing (Monday) |
Elements | Learning activities(All exs are from Financial Accounting Applications unless otherwise mentioned). | |
| 1 | July 4 | Balance day adjustments/reversals, closing the ledger | 1.1,2 2.1,2,3,4,5,6 | From TAFE Accounting Basic Reports 8th ed. 2.26,27,28,,29 and 3.6,7,8,9 |
| 2 | July 11 | Balance day adjustments | 1.1,2 2.1,2,3,4,5,6 | see above |
| 3 | July 18 | Incomplete or Single entry systems | 2.1,2,3,4 | 2.1,2,3,4,5,6,7 a,b |
| 4 | July 25 | Incomplete or Single entry systems | 2.1,2,3,4 | 2.8,9,10,11,12 |
| 5 | Aug 1 | Not for profit organisations | 2.1,2,3,4 | Eg p182, p185,p184, Ex 3.14,15,16, 18,19,20,22,24 |
| 6 | Aug 8 | TEST 1 | Test worth 50% on all topics studied thus far | |
| 7 | Aug 15 | Partnership : formation | 2.1,2,3,4 | 1.15,16,13,14 |
| 8 | Aug 22 | Partnership: Appropriation of profit | 2.1,2,3,4 | 1.18,1920,21,22 |
| Mid semester break | ||||
| 9 | Sept 5 | Partnership: Dissolution | 2.1,2,3,4 | Handout without GST |
| 10 | Sept 12 | Partnership: Dissolution | 2.1,2,3,4 | Eg p93 Ex 1.48,47,46 |
| 11 | Sept 19 | TEST 2 | Test worth 50% on all topics studied since Test 1 | |
| 12 | Sept 26 | Resits, feedback, review of assessment |
The weekly schedule may be subject to change. Students will be advised on the online learning hub and in class should any changes occur.
Learning Resources
Prescribed Texts
Relevant learning resources will be placed on the online learning hub progressively throughout the semester. Students will need to access this site on a weekly basis, print the materials and bring |
|
TAFE Accounting Financial Accounting Applications by Fleay and Poustie 3rd ed. |
|
TAFE Accounting Basic Reports 9th ed by Mroczkowski, Fleay, Poustie |
References
Other Resources
Overview of Assessment
Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.
Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.
Assessment Tasks
Competency and grading requirements
Assessment methods have been designed to measure achievement of each competency. To be deemed competent students must demonstrate an understanding of all elements of a competency.
Students will achieve a grade of CA if competent, or alternatively a NYC to indicate they are not yet competent for each assessment. If competent, the assessment will
also carry a numerical weighting for the purpose of articulation into degree courses. Where a student is graded as NYC, they will be given an opportunity to resit the
assessment as scheduled in week 12.
Students who achieve competency in a reassessment will be allocated a grade for the assessment and assuming competency is achieved in all assessments an overall course grade out of 100%.
Students who have an approved special consideration application will be able to complete the missed assessment for competency and if successful, a grade.
Assessment mapping :
Assessment Task Description Assessment No. Assessment Method/s Elements/PCs** Req Skills*** Req Knowledge****
Test 1
Date:08/08/2011
Not for profit organizations. 1 Written examination 1.1,2, 2.1,2,3,4,5,6 all all
Incomplete (or single entry)accounting
Closed book
2 hrs written
Test 2
Date:19/09/2011 2 Written examination 1.1,2 2.1,2,5,6 all all
Partnership accounting incl formation,
appropriation of profits, and dissolution
Closed book
2 hrs
written
* Obtain number from previous table ‘Critical Aspects of Evidence’
** Elements and Performance Criteria are numbered using the Unit of Competency numbering system.
*** Obtain number from previous table ‘Required skills’
**** Obtain number from previous table ‘Required knowledge’
If a student misses an assessment for ANY REASON, they must complete a special consideration application. Please note that applications must be submitted through the Hub on RMIT Melbourne campuses within 2 working days of the scheduled assessment IT IS EXPECTED THAT STUDENTS WILL SHOW THEIR TEACHER THE WRITTEN RECEIPT GRANTING A DEFERRED ASSESSMENT AS SOON AS IT IS RECEIVED so it can be recorded Special Consideration (the full policy can be found at
http://www.rmit.edu.au/browse;ID=g43abm17hc9w. This site includes a link to the application form).
Test 1 (week 6) on Single entry and Not-for-profit : Grade allocation: up to 50%, this is a closed book test
Test 2 (week 11) on partnership topics : Grade allocation: up to 50% , this is also closed book test
Assessment Matrix
| Test 1 | Test 2 | |
| Element 1: Compile data | V |
V |
| Element 2: Prepare reports | V | V |
Other Information
On completion of this course students should display the following employability skills:
- Communication
- Initiative and Enterprise
- Planning & Organization
- Self Management
- Learning
- Technology
Course Overview: Access Course Overview